The National Student Financial Aid Scheme (NSFAS) Administrator, Freedom Nomvalo, recently provided an update on the status of 2024 NSFAS loan funding decisions. Students who applied for the NSFAS Missing Middle Loan can finally expect some clarity.
The delays in finalising Student Appeals, Loans and the 2023/2024 funded lists is directly connected to the current NSFAS ICT system. The only default position at this stage is to constantly introduce a manual process of verification which is completely cumbersome and overoverstretching staff.
Nomvalo has confirmed that funding decisions will be released before the end of August.
The Missing Middle Loan is a lifeline for students who don't qualify for full NSFAS funding but struggle to cover tuition fees. Despite receiving 24,000 applications for the 2024 academic year, many applicants didn't meet the eligibility criteria or submitted incomplete forms.
Nomvalo emphasized that NSFAS has addressed the initial challenges and is working to increase its capacity to manage the loan scheme in the future. A total of 31,000 Missing Middle Loans will be offered in 2024.
We are also in the final planning phase for the appointment of specialised capacity to finalise the implementation of the loan scheme for 2024 and beyond.
NSFAS Appeal Backlog Reduced
In addition to the loan scheme, NSFAS has been tackling a massive backlog of appeals. The number of outstanding appeals has dropped from a daunting 88,000 to approximately 4,000.
Nomvalo acknowledged the significant volume of applications and appeals, coupled with unreliable systems, as major hurdles.
As the NSFAS Administrator works to streamline processes and increase efficiency, students eagerly await the release of funding decisions and the resolution of their appeals.
